Stellar Lumens (XLM) to shift to emerging markets with SHIFT partnership 20780
News
Madhurima Roy
Aug 10, 2018 at 5:15 PM

Stellar Lumens (XLM) is spreading its roots to emerging markets with its latest partnership with Shift Markets. Shift Markets’ market platform serves as a ‘turn-key solution to starting a cryptocurrency exchange or brokerage’.

Shift Markets has announced its partnership with Lightyear, a software company that is powered by the Stellar network, to support the integration of Stellar technology.

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How will the partnership help Stellar?

SHIFT has helped to launch over 100 new FX brokers and more than 60 crypto exchanges all across the globe, mostly in emerging markets. Thereby, it can be easily concluded that the partnership will boost the adoption of Stellar technology and its native currency, Lumens (XLM) to a greater scale. And, the partnership will supposedly support the cross-border payments of Stellar.

Looking forward to the promising partnership, Paul Arnautoff, Director of Sales and Partnerships at Lightyear.io, said: "We are very excited to partner with Shift Markets to help expand the utility and reach of the Stellar blockchain network. With Shift Market's technology platform and the customers, they work with, Stellar users will now have access to a growing network of liquidity providers in new and emerging markets.”

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"With new on-ramps and off-ramps for fiat to virtual currency, the Stellar network continues to expand its mission of financial inclusion and reducing friction in cross-border payments."

SHIFT is the brainchild of Ian McAfee, who is also the company’s CEO. He said, "This is an exciting partnership for us as many of our exchange clients would like to offer Lumens trading on their exchange. Their commitment to provide low-cost financial technologies in developing nations makes them a good fit for our market. We aim to increase Lumen liquidity and usage for both major and exotic fiats.”

 

Image via Shutterstock

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